2002 OECD Economic Surveys: New Zealand 2002

image of OECD Economic Surveys: New Zealand 2002

This 2002 edition of OECD's periodic economic reviews for New Zealand examines recent economic developments, policies and prospects and  includes special features on public spending and raising output growth.

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Recent economic performance

The New Zealand economy has performed well since bouncing back from

the effects of 1997’s Asian crisis. Growth rates were above 5 per cent per year

through 1999 and early 2000 and, after a brief pause in 2000, continued to hold up

reasonably well last year. The country has been riding on a terms of

trade boom, as the prices of its major exports were out of line with general global

commodity prices until late in 2001. It has also enjoyed the rare combination

of having a weak exchange rate at the same time as high export prices, so

prices in local-currency terms were extraordinarily favourable. ...

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